Northern Trust Corp Has $128.90 Million Holdings in Pure Storage, Inc. $PSTG

Key Points

• Northern Trust Corp increased its holdings in Pure Storage, Inc. by 0.8% in Q1, owning approximately $128.90 million worth of shares after acquiring an additional 23,531 shares.
• Insiders sold a total of 446,794 shares of Pure Storage worth about $26.64 million in the last quarter, with notable sales by Ajay Singh and John Francis Murphy.
• Analysts have mixed ratings on the stock, ranging from "Buy" to "Sell," with an average target price of $70.11 per share, reflecting the company's market potential amidst ongoing growth in data storage solutions.

Northern Trust Corp raised its position in shares of Pure Storage, Inc. (NYSE:PSTG - Free Report) by 0.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,911,591 shares of the technology company's stock after purchasing an additional 23,531 shares during the quarter. Northern Trust Corp owned approximately 0.89% of Pure Storage worth $128,896,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. McIlrath & Eck LLC bought a new position in Pure Storage during the 4th quarter valued at $25,000. MassMutual Private Wealth & Trust FSB increased its position in shares of Pure Storage by 55.9% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 650 shares of the technology company's stock valued at $29,000 after buying an additional 233 shares during the period. FNY Investment Advisers LLC increased its position in shares of Pure Storage by 5,233.3% during the first quarter. FNY Investment Advisers LLC now owns 800 shares of the technology company's stock valued at $35,000 after buying an additional 785 shares during the period. TruNorth Capital Management LLC purchased a new position in shares of Pure Storage during the first quarter worth about $38,000. Finally, Nisa Investment Advisors LLC grew its holdings in shares of Pure Storage by 35.6% during the first quarter. Nisa Investment Advisors LLC now owns 910 shares of the technology company's stock worth $40,000 after purchasing an additional 239 shares in the last quarter. Institutional investors and hedge funds own 83.42% of the company's stock.

Insider Buying and Selling

In other news, insider Ajay Singh sold 22,601 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $55.45, for a total transaction of $1,253,225.45. Following the transaction, the insider owned 261,465 shares of the company's stock, valued at approximately $14,498,234.25. The trade was a 7.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Francis Murphy sold 11,234 shares of the business's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $55.13, for a total value of $619,330.42. Following the transaction, the director directly owned 21,930 shares in the company, valued at approximately $1,209,000.90. This represents a 33.87% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 446,794 shares of company stock worth $26,641,913. 5.60% of the stock is owned by company insiders.

Pure Storage Price Performance

NYSE:PSTG opened at $58.2880 on Friday. Pure Storage, Inc. has a 1 year low of $34.51 and a 1 year high of $73.67. The stock's 50 day simple moving average is $56.48 and its two-hundred day simple moving average is $53.61. The company has a market cap of $19.05 billion, a price-to-earnings ratio of 157.54, a PEG ratio of 5.28 and a beta of 1.07.

Pure Storage (NYSE:PSTG - Get Free Report) last released its quarterly earnings data on Wednesday, May 28th. The technology company reported $0.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.25 by $0.04. The business had revenue of $778.49 million for the quarter, compared to the consensus estimate of $770.03 million. Pure Storage had a return on equity of 13.98% and a net margin of 3.93%.The company's revenue was up 12.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.32 EPS. Pure Storage has set its Q2 2026 guidance at EPS. FY 2026 guidance at EPS. As a group, analysts anticipate that Pure Storage, Inc. will post 0.44 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PSTG. Barclays cut their target price on Pure Storage from $61.00 to $57.00 and set an "equal weight" rating for the company in a research note on Thursday, May 29th. Citigroup increased their price objective on Pure Storage from $65.00 to $70.00 and gave the stock a "buy" rating in a report on Monday, August 11th. Wedbush reissued an "outperform" rating and issued a $70.00 target price on shares of Pure Storage in a research note on Thursday, May 29th. Morgan Stanley assumed coverage on Pure Storage in a research report on Thursday. They set an "equal weight" rating and a $60.00 price objective on the stock. Finally, JPMorgan Chase & Co. dropped their price objective on Pure Storage from $75.00 to $70.00 and set an "overweight" rating on the stock in a research report on Thursday, May 29th. Fourteen analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $70.11.

About Pure Storage

Pure Storage, Inc engages in the provision of data storage and management technologies, products, and services in the United States and internationally. Its Purity software is shared across its products and provides enterprise-class data services, such as always-on data reduction, data protection, and encryption, as well as storage protocols, including block, file, and object.

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